Economy News

Conoco Moving to Take Over Assets of PDVSA in Caribbean

Conoco Moving to Take Over Assets of PDVSA in Caribbean

Conoco/Phillips the oil giant based in the U.S. is moving on taking over Caribbean assets of PDVSA the state-run Venezuelan oil business to enforce an arbitration award of $2 billion over a nationalization of its projects more than a decade ago in the South American country, said sources close to […]

China Offering Tax Breaks As Incentive to Tax Overhaul in U.S.

China Offering Tax Breaks As Incentive to Tax Overhaul in U.S.

China has responded to the tax overhaul in Washington by offering a break to foreign companies on taxes in China in an attempt to keep investment. Late Thursday, the measure was announced and is the Beijing’s first major reaction to the decision by the U.S. to slash corporate taxes. It […]

Tempers Rise in FCC Over Sinclair Record Fine

Tempers Rise in FCC Over Sinclair Record Fine

FCC commissioners from the Republican and Democratic Parties traded barbs during the week following the record fine the federal agency levied on Sinclair Broadcast Group, a conservative leaning company. During the first six months of 2016, Sinclair aired over 1,723 segments on-air related to the Huntsman Cancer Institute on 64 […]

General Motors Patents Outside Airbags for Pedestrians

General Motors Patents Outside Airbags for Pedestrians

Airbags are made to protect the passengers inside vehicles. However, General Motors believes they can work equally as well on the exterior of vehicles to save pedestrians during crashes. GM received a patent of its airbag on the outside of a vehicle that is designed to provide pedestrians protection, the […]

Margaret Georgiadis Steps Down from Mattel CEO Post

Margaret Georgiadis Steps Down from Mattel CEO Post

Mattel Inc. said Thursday that Ynon Kreiz a member of the board and an executive in digital media would replace CEO Margaret Georgiadis, who is resigning after just 14 months in charge of the maker of Barbie dolls and Hot Wheels. Mattel, whose stock has lost close to half its […]

Should debt collection be a primary funding source for healthcare providers?

Should debt collection be a primary funding source for healthcare providers?

For most companies having past-due amounts is not a pleasant or power position to be in. In the case of hospitals, the high bills have left both providers and patients in a delicate situation, unable to pay their debts. Without other options, hospitals are changing their primary function as healthcare […]

Bank of America Profit Hit by Tax Reform

Bank of America Profit Hit by Tax Reform

Bank of America said that a charge from the tax law that was just instituted in the U.S. caused its profit for the quarter to drop 48%, even as it ended 2017 by putting its crisis-era far behind it. The bank, based in Charlotte, North Carolina, posted on Wednesday profit […]

Investigators: Tainted Food Not Recalled Quick Enough by FDA

Investigators: Tainted Food Not Recalled Quick Enough by FDA

According to a new report the Department of Health and Human Services’ inspector general issued, contaminated food is not being removed from stores shelves quick enough. The reports indicated that the U.S. Food and Drug Administration does not always use an effective and efficient process for food recall that ensured […]

Travel Ban Challenge to Be Heard by Supreme Court

Travel Ban Challenge to Be Heard by Supreme Court

The U.S. Supreme Court announced that it would hear the challenge of the most recent travel ban implemented by President Donald Trump. Oral arguments on the challenge will be heard starting in April. In an order of just two sentences, the court announced it would consider questions related to whether […]

Retailers in UK Enjoy Strong Sales on Black Friday

Retailers in UK Enjoy Strong Sales on Black Friday

Shoppers across Britain pounced on the bargains available on Black Friday late last month which gave an unexpected boost to retail, that contrasted signs earlier of a subdued beginning to the Christmas spending season. Through most of 2017 consumers have felt squeezed by increasing inflation which hits the hardest in […]